58.com's Logistics App 58 Suyun Merges with Van Rental App GoGoVan
iYiou, 8/28/17
Mobile logistics app 58 Suyun, operated by Chinese online classifieds site 58.com's (NYSE: WUBA) O2O life services subsidiary 58 Home, has merged with intra-city logistics platform GoGoVan, operated by Hong Kong-based Gogo Tech Limited.
58 Home holds a majority of the shares of the newly created company. Following the merger, GoGoVan will serve as the English-language brand, while 58 Suyun will serve the Chinese-speaking market.
58 Home CEO Chen Xiaohua will serve as the chairman of the merged company, and GoGoVan CEO Steven Lam will be the CEO. The new company will provide companies and individuals with delivery and home moving services, and will operate in mainland China, Hong Kong, Singapore, Taiwan, South Korea, and India. 58 Suyun has not announced any other details of the merger.
58 Suyun currently covers more than 100 Chinese cities, has 1 mln drivers registered on the platform, and has a user base of more than 3 mln. 58 Suyun started as an intra-city logistics solution, and has created a complete O2O process where users place an order online, and nearby drivers select the order and arrive within ten minutes to complete the job. Payment and ratings are competed online.
GoGoVan, founded in in July 2013, offers cargo moving services. GoGoVan expanded to the mainland China and Korean markets in 2015, and currently operates in 13 cities in Asia. The platform has more than 150,000 registered drivers who have completed a total of 30 mln orders.
Keywords: 58 Suyun M&A Chen Xiaohua Steven Lam wireless 58.com logistics 58 Home WUBA O2O GoGoVan
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